Treasurer

Prerequisites:

Familiarity with bookkeeping and experience in the use of accounting software and spreadsheets is strongly recommended.

Responsibilities include:

Maintaining bank and investment accounts; establish new ones as required.
Maintaining the Strata’s financial records.

Duties Include:

The duties of the Treasurer are not defined in the Strata Property Act (SPA), but they generally encompass the strata’s financial affairs. In our strata, which is self-managed, they include:

Prepare monthly reports and attend monthly Council meetings.
Prepare and present monthly financial statements at Council meetings.
Collect strata revenues using the automatic debit system and deposit monthly cheques.
Collect other receivables such as fines, liens, orders for sale.
Process invoices and pay strata expenses.
Create invoices as required.
With input from Council, prepare a draft annual budget for approval by owners at the AGM.
Prepare year end report for the AGM.
Pick up mail from the Strata Corporation’s mailbox and handle accordingly.
Complete Form F financial information as required for real estate sales.

For more information, here is Vancouver Island Strata Owners Association’s: Best Practices for Strata Treasurers (PDF)